Looking to balance out your exposure to ENVB? The ETFs below have the lowest correlation with ENVB — they tend to move on their own, which can help reduce risk when ENVB drops. The stock ideas table highlights individual companies that behave independently from ENVB.
Best Diversifiers for ENVB
13 ETFs have low correlation with ENVB (below 0.3), 1 of which are negatively correlated. The least correlated is Schwab Government Money Market ETF (SGVT) (Money Market) with a 1Y correlation of -0.14, roughly unchanged from -0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab Government Money Market ETF | -0.14 | -0.12 | -0.12 | 100 | Money Market | ENVB vs SGVT | |
| VanEck Pharmaceutical ETF | 0.08 | 0.13 | 0.15 | 54 | Health & Biotech Equities | ENVB vs PPH | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.09 | 0.10 | 0.17 | 65 | Nasdaq-100, Derivative Income | ENVB vs JEPQ | |
| Invesco Nasdaq Biotechnology ETF | 0.13 | 0.19 | 0.25 | 91 | Health & Biotech Equities | ENVB vs IBBQ | |
| Invesco S&P Ultra Dividend Revenue ETF | 0.17 | 0.21 | 0.23 | 85 | Mid Cap Value Equities, Dividend | ENVB vs RDIV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ENVB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ENVB and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.08, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.08 | 0.04 | 0.04 | 66 | Utilities | |
| AbbVie Inc. | -0.05 | 0.06 | 0.03 | 79 | Healthcare | |
| Chevron Corporation | -0.01 | 0.05 | 0.10 | 70 | Energy | |
| Berkshire Hathaway Inc. | 0.03 | 0.07 | 0.14 | 53 | Financial Services | |
| Eli Lilly and Company | 0.05 | 0.06 | 0.05 | 80 | Healthcare |
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